Tool boxes, tool bags, and tool belts are well known for storing and transporting a variety of items. Prior art utility tool boxes are useful for organizing and retaining tools small loose items, and they are typically constructed from solid materials such as metal, wood or hard plastic. Prior art tool bags and tool belts are typically constructed from flexible materials such as fabric or leather, and they are less prone to cracking and breaking. A need therefore exists for a tool bag which takes advantage of the characteristics of both solid tool boxes and flexible tool bags and tool belts.